2011-05-23nakedcapitalism.com

``The court found that the mechanism used by MERS, of having MERS' corporate secretary (Hultman) appointment various MERS signing officers was invalid because the appointment has not been approved by MERS' board of directors, as required by MERS' by-laws. That means that when the signing officer executed the assignment, it resulted in MERS filing a fraudulent document in the deed records... Given the large number of signing officers that MERS has (over 20,000, with a lot of churn among them) which would seem to make it impractical for the board to have authorized them individually as required.''


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